Laird Norton Wetherby Wealth Management LLC Decreases Stock Holdings in POSCO Holdings Inc. (NYSE:PKX)

Laird Norton Wetherby Wealth Management LLC reduced its position in shares of POSCO Holdings Inc. (NYSE:PKX) by 21.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,100 shares of the basic materials company’s stock after selling 5,060 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in POSCO were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Northern Trust Corp increased its holdings in POSCO by 157.0% during the 4th quarter. Northern Trust Corp now owns 429,264 shares of the basic materials company’s stock valued at $18,613,000 after purchasing an additional 262,257 shares during the period. Ovata Capital Management Ltd bought a new stake in shares of POSCO in the 4th quarter worth approximately $4,791,000. Cubist Systematic Strategies LLC purchased a new position in shares of POSCO during the fourth quarter valued at approximately $3,801,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of POSCO by 19.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 384,512 shares of the basic materials company’s stock valued at $16,672,000 after acquiring an additional 63,336 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in POSCO in the fourth quarter worth $1,783,000.

POSCO Stock Performance

NYSE:PKX opened at $44.64 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.93 and a debt-to-equity ratio of 0.24. The firm’s fifty day simple moving average is $47.42 and its 200 day simple moving average is $47.82. The stock has a market cap of $13.55 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.36. POSCO Holdings Inc. has a twelve month low of $39.40 and a twelve month high of $75.30.

POSCO (NYSE:PKX) last posted its earnings results on Thursday, April 24th. The basic materials company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.05). POSCO had a return on equity of 1.87% and a net margin of 1.55%. The company had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.12 billion. As a group, research analysts predict that POSCO Holdings Inc. will post 3.74 EPS for the current year.

About POSCO

POSCO Holdings Inc, together with its subsidiaries, operates as an integrated steel producer in Korea and internationally. It operates through six segments: Steel, Trading, Construction, Logistics and Others, Green Materials and Energy, and Others. The company engages in the production, import, sale, and export of steel products, such as hot and cold rolled steel, stainless steel, plates, wire rods, and silicon steel sheets, as well as pig iron, billets, blooms, and slabs; trading of steel and raw materials, textiles, agricultural commodities, and other goods; natural resources development and power generation activities; and planning, designing, and construction of industrial plants, civil engineering projects, and commercial and residential buildings.